Statement from Perrin Beatty on the extension of CEBA repayment deadline

Today’s CEBA announcement signals that the government has heard the business community and is responding to some of the challenges of the current economic environment.

It would be tragic to see businesses that survived the pandemic having to close now. That is why the Canadian Chamber joined our network of local chambers of commerce and boards of trade, along with other business associations and thousands of individual businesses across Canada, in calling for an extension to the CEBA repayment deadline.

Despite businesses’ best efforts, the current environment has presented unprecedented challenges that make it difficult for many businesses to stay afloat, let alone thrive. High interest rates, inflation and increased labour costs are just some of the obstacles businesses continue to face after surviving pandemic restrictions. 

Thousands of small-and-medium-size businesses took on CEBA loans to keep their doors open. They demonstrated enormous resilience and innovation throughout the pandemic. The Chamber will continue to closely monitor the implementation of today’s announcement, which we hope will provide some of the stability and certainty businesses need to get back on their feet, continue strengthening their communities, and put Canada on a path to prosperity.

Perrin Beatty, President and Chief Executive Officer, Canadian Chamber of Commerce